AKIPRESS.COM - Asia-Pacific leaders meeting in Beijing have agreed to move towards a new free trade zone strongly backed by China.

The Free Trade Area of the Asia-Pacific (FTAAP) is seen by some as a rival to a US trade pact, which excludes China.

Announcing the creation of a "road map" at the Apec summit near Beijing, Chinese leader Xi Jinping called it "a historic" step.

Mr Xi earlier urged Asia-Pacific nations to accelerate economic ties.

The US is currently negotiating a separate Trans-Pacific Partnership (TPP), which is considered part of Washington's "pivot" towards Asia - ensuring continued US influence in the region in response to growing Chinese power.

The TPP involves 12 countries, but not China or Russia.

But Mr Obama has rejected suggestions by Chinese commentators that the TPP is a way of countering Chinese influence.

In an interview with China's Xinhua state news agency, he said the US was in no way trying to contain China.

Leaders of Apec - the 21-nation Asia-Pacific Economic Co-operation forum - are to conduct a two-year study into the establishment of the FTAAP.

"Currently, the global economic recovery still faces many unstable and uncertain factors," the Chinese leader said earlier.

"Facing the new situation, we should further promote regional economic integration and create a pattern of opening up that is conducive to long-term development."